Lit has the water/toluene azeotrope at ~80% by mass... so the azeotrope explanation is perhaps right in a way, just not detailed enough of an explanation?
If they are covering Raoults law in this chapter the answer probably revolves around that. I would just say that the toluene/water mix is not an ideal gas/liquid so the forces between the two liquids aren't uniform, making it possible for the mol fraction in the gas phase to be different than the liquid. In the toluene/water case this gives the solution a positive deviation from Raoults law. I don't know that there is really much else to say, especially for an undergrad organic lab.